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New Zealand Could Lose its Final Refinery

2/17/2021

Refining NZ of New Zealand was recently reported in saying that its Marsden Point Refinery in Northland is under consideration for conversion into an import terminal by 2022. This would leave the country with no known refining capacity.

This potential conversion is part of the company’s plans for a larger and more diverse energy hub onsite with an LNG terminal and battery storage capacity. If built, the import terminal would begin in 2022 with a capacity for approximately 50,000 barrels per day, which is far less than half of the Marsden Point refinery’s capacity for 135,000 barrels per day. Refining NZ stressed that no final decision has been made around this conversion.

The loss of the Marsen Point refinery would add to the recent refinery closures in the Asia-Pacific region such as the recent announcement by Exxon to close the 90,000 bpd Altona refinery in Victoria, Australia and BP’s plan to shut in the 146,000 Kwinana refinery in Western Australia before that, leaving Australia with two operating refineries.